Russian Venture Company sets up 10 new funds focused on global market

Over the course of three years, Russian venture company (RVC) will establish at least 10 new funds, the organization’s general director, Alexander Povalko, said at the IV Investment Forum “The Future of Venture Capital Market” held by RVC.

“By the year 2020 at least 10 new funds will be set up, which will be focused on the Russian and global markets,” he specified. Alexander Povalko noted that within the framework of the National Technology Initiative technological benchmarks for these funds are expected to be formed.

In 2017, the funds in amount of 8.5 billion rubles are envisaged to support these projects, as it follows from RVC presentation.

JSC RVC is a development institution which facilitates the emergence of a domestic venture capital industry, and also acts as the project office of the National Technology Initiative, which aims to achieve leading positions of Russia in the new high-tech markets.